The Solana Optimist Network (SOON) has raised an undisclosed amount in a co-builder funding round that attracted contributions from key industry figures, according to an Aug. 27 statement shared with CryptoSlate.
Notable participants in the round include Solana leaders Lily Liu and Anatoly' Toly' Yakovenko, Coinbase Ventures director Jonathan King, and Celestia Labs co-founder Mustafa Al-Bassam. Other contributors include AltLayer co-founder Amrit Kumar, Avail co-founder Prabal Banerjee, and Wormhole Foundation co-founder Robinson Burkey.
SOON
The funding will primarily go towards developing the SOON Stack, with the goal of creating the most efficient and high-performance stack for Layer 1 settlements, using the Solana Virtual Machine (SVM) as the execution layer.
The funding will support SOON’s flagship products including SOON Stack and SOON Mainnet. SOON Stack is a modular framework that combines SVM and OP Stack to enable Layer 2 SVM deployment on Layer 1s such as ethereum, bitcoin, and Cosmos.
SOON Mainnet is a general-purpose SVM layer 2 solution that sits on the ethereum blockchain and is implemented using the SOON Stack. Once launched, SOON aims to increase ethereum’s transaction capacity by 650,000 transactions per second (TPS) using SVM.
Additionally, SOON plans to integrate a data availability layer, improving interoperability with CelestiaDA, EigenDA and Avail.
This funding is expected to position SOON as the highest-performing rollup stack with low fees, offering scalability and efficiency for decentralized applications (dApps) across all Layer 1 blockchains.
SOON CEO Joanna Zeng said the platform will combine Solana’s powerful SVM engine with Layer 1 user bases. She added that this approach could establish SVM as the standard for every Layer 1 ecosystem and attract developers.
Zeng added:
“With SOON, we aim to be the most efficient solution, reducing costs and increasing performance by 100x in every ecosystem, compared to the highest performing EVM, while maintaining a culture that welcomes non-Solana blue chips.”
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(tags to translate)ethereum
